"My intel is that they do not believe that a minnow can go all...

"My intel is that they do not believe that a minnow can go all the way into production ..."

Good intel and a logical outcome.

Ernie has earnt a comfortable and stress free retirement after his persistence and tenacity in Namibia.

It's worth noting that for PCL to maintain its 20% after the first drill they only have to do a CR of approx $10M USD and if the first drill shows signs of life then it would be logical for PCL to do that given that its SP would be multiples above where it is now.

Far less dilution of shares if say the SP is around 10 cents, Ernie is on record as saying this is the time to reward shareholders so this would make sense from that perspective as well.

I for one would try to take a decent chomp of a CR for a second hole if the first well was ok because if we go back to your point @phx that PCL won't last the distance, the possibility of a buy out would be realistic and as a company with 2 good drills under the belt you could forsea a decent offer.

20% of a monster is still a monster.

Where I differ in opinion is who would WDS be interested in partnering with and vice versa. It's possible they would want a super onboard which would bring significantly more resources particularly if it was one of the supers to the south, imagine the trove of info in their databanks that could aide WDS with Saturn, let alone the expertise as well.

I'm sure there would be many different types of potential partners willing to prostrate themselves to get that 20% but the question has to be asked what is best for WDS in getting Saturn into production.

Is it inconceivable that in the agreement WDS have a say or some sort if PCL sells its 20% ?

Shaping up to be a spectacular 2024.

My guess for 2024 is 2 good holes and then a buyout offer towards the end of the year by 1 of the super majors to the south at around a buck a share (if the first 2 drills are good).

Just some idle thoughts, and not advise.

Have a great weekend